Keeping score: biotech, Chinese debt and European ECM

Here are some highlights from this week’s Thomson Reuters Investment Banking Scorecard.

Medarex boosts biotechnology M&A to $5.3 billion

Bristol-Myers Squibb’s $1.9 billion acquisition of Medarex lifted the volume of biotechnology M&A to $5.3 billion for year-to-date 2009, a 90% decrease from 2008 levels. Last year’s total was bolstered by the $46.7 billion acquisition of Genentech by Roche Holding. Excluding the Genentech transaction, biotechnology M&A volume is down 22% over 2008 levels. By number of deals, mergers in the sector are up 15% over last year.

With their advisory roles on the Medarex transaction, JP Morgan and Goldman Sachs top the ranking of biotechnology advisors for year-to-date 2009.

Chinese debt capital markets triple over 2008
Debt offerings from Chinese companies total $84.9 billion for year-to-date 2009, nearly triple the levels reached last year at this time. Issuers from the financial, energy and power, and industrial sectors account for just over 75% of activity. Industrial & Commercial Bank of China’s (ICBC) recent $5.8 billion offering ranks as the third largest debt offering from a Chinese issuer this year.
ICBC, CITIC and China International Capital lead the Chinese debt underwriting league tables, with a combined 45.3% of the market.

European ECM activity down 5%
European equity capital markets activity totals $129.5 billion through July 23rd, a 5% decrease from 2008. Overall activity is highly concentrated in financials, energy and power and materials, which comprise 72% of new issue activity in Europe. Issuers from the United Kingdom account for 46% of European activity so far in 2009, powered by multi-billion offerings from HSBC, Rio Tinto, and Lloyds Banking Group. JP Morgan tops the list of European ECM bookrunners, with 23.2% of the market, followed by Goldman Sachs with 10.9%.

from Shop Talk:

Whole Foods selling 13 stores in settlement

wholefoodsflag1Natural and organic food grocer Whole Foods will sell 13 stores as part of a settlement that ends an antitrust battle with U.S. regulators over its acquisition of rival Wild Oats.

Is your store on the list?  

    7133 N. Oracle Rd., Tucson, AZ 8688 E. Raintree Dr., Scottsdale, AZ 2584 Baseline Rd., Boulder, CO         1651 Broadway St., Boulder, CO         3180 New Center Pt., Colorado Springs, CO   5910 S. University Blvd., Littleton, CO 9229 N Sheridan Blvd., Westminster, CO 340 N. Main St., West Hartford, CT   4301 Main St., Kansas City, MO 1090 St. Francis Dr., Santa Fe, NM          7250 W. Lake Mead Blvd., Las Vegas, NV 19440 N.W. Cornell Rd., Hillsboro, OR 6930 S. Highland Dr., Salt Lake City, UT

(Photo\Mike Blake, Reuters)